The prospect of insolvency is enough to worry any business owner. Getting the right advice is crucial.Find out more
Individuals, including sole trader businesses, may propose an Individual Voluntary Arrangement to creditors as a means of maximising the outcome for creditors and avoiding personal bankruptcy.
A proposal may be based on a lump sum or contributions over a period of up to five years.
- Avoid restrictions and stigma of bankruptcy
- Retain control of your assets
- Lower costs than bankruptcy give an enhanced return to creditors
- Once accepted by >75% of creditors voting, the proposal is binding upon all creditors
To find out more and discuss if a voluntary arrangement is right for you, get in touch with your closest Kingsbridge office.